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If you haven’t, don’t worry – it’s a fairly new concept that’s been gaining popularity in recent years. A digital nomad is someone who works remotely and is not tied down to a physical location. This means they can work from anywhere with an internet connection, whether it be a coffee shop, a co-working space, […]
As the popularity of cryptocurrencies continues to grow, so does the scrutiny from government agencies like the Internal Revenue Service (IRS). The IRS has been working hard to ensure that taxpayers who invest in cryptocurrency are properly reporting their gains and losses on their tax returns. In this article, we’ll discuss what cryptocurrency taxes are, […]
In general, income can be received in three ways – money, services, and property – and IRS requires you to declare most of this income on your tax return. Income is taxable unless specifically exempted by law, and in some cases, even nontaxable income must be disclosed on your tax return. Taxable Income Typically, the […]
The IRS has begun accepting and processing 2022 tax year return filings as of January 23rd 2023. Please note FEDERAL INCOME TAX filing deadlines for calendar year taxpayer are as follows in 2023 for the 2022 tax year: PARTNERSHIPS AND S CORPS:Returns due on March 15,2023, Extended due date September 15, 2023.Please note that […]
THE CANNABIS EQUITY TAX CREDIT One of the goals of California Assembly Bill 195, signed into law by Governor Gavin Newsom on June 30, 2022, was to bring tax relief to the cannabis industry, a class of businesses notoriously challenged by heavy taxes. To this end, the Franchise Tax Board is currently offering two tax […]
THE HIGH-ROAD CANNABIS TAX CREDIT On June 30, 2022, Governor Gavin Newsom signed California Assembly Bill 195 into law, a bill specific to the cannabis industry. One of the goals of this bill was to bring tax relief to a class of businesses notoriously challenged by heavy taxes. To this end, the Franchise Tax Board […]
Each year, the IRS unveils its list of scams that target unsuspecting taxpayers. Below are five of the most common tax scams impacting taxpayers today, as well as tips to not become a victim: Pandemic-related scams. Criminals still use the COVID-19 pandemic to steal people’s money and identity with phishing emails, social media posts, phone […]